ING Digitizes Wholesale Banking Operations with Pega
Built over 70 wholesale banking workflow solutions in Pega
Launched fully digital client onboarding experience
Streamlined experience for wholesale clients and employees via a single portal
"We started with a lift and shift approach of the existing workflow solutions into Pega. We kept it simple, enabling us to free up resources and ultimately reduce costs when we switched off the old systems."
The Business Issue
ING serves more than 38 million clients, corporate clients, customers, and financial institutions in over 40 countries.
For the past decade, ING has been using Pega extensively in retail banking, mortgages, and consumer loans, but not in its wholesale business. Traditionally, wholesale clients were served only by ING relationship managers and customer loyalty teams, but in recent years, wholesale customers have come to expect a cohesive digital experience for onboarding, loan origination and payments.
ING needed to provide a predictable and high-quality service experience for these customers and set out to achieve that through digitalization and standardization.
ING expanded its relationship with Pega by starting a new digitalization program, where the bank re-imagined customer journeys. The organization started with a lift-and-shift approach of its existing 70 workflow solutions into Pega. This approach included business and IT staff working together towards a common goal and resulted in the creation of new sales service capabilities for account opening, client onboarding, and more.
In addition, ING is leveraging Pega’s Digital Experience (DX) API within its InsideBusiness portal for its wholesale clients and employees. The DX API collects all configurations and rules from Pega, and an interpreter then reads the DX API and displays it in ING style to clients and employees in the InsideBusiness portal. This means that the bank doesn’t have to build or maintain a separate user interface with logic.
ING wholesale clients now have a full digital experience for client onboarding in eight countries with expansion planned to 10 others. From a technical point of view, the bank speeds up this journey by automating and reusing as much as possible. Account opening is fully digital now in two countries, and ING plans to expand to 40 more soon.
The company has also received enough client feedback and observed behavior to have a more in-depth understanding of customer needs and can act on and improve these journeys.
In the future, ING plans on leveraging Pega’s reusable components to drive more ROI throughout multiple client journeys.